Mackenzie Financial Corp Lowers Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Mackenzie Financial Corp cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 61.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,164 shares of the Wireless communications provider's stock after selling 65,968 shares during the quarter. Mackenzie Financial Corp's holdings in Telephone and Data Systems were worth $1,404,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TDS. Third Point LLC increased its position in shares of Telephone and Data Systems by 108.7% during the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock worth $204,660,000 after purchasing an additional 3,125,000 shares in the last quarter. American Century Companies Inc. boosted its stake in Telephone and Data Systems by 6.7% during the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock worth $110,161,000 after purchasing an additional 203,897 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Telephone and Data Systems by 1.1% during the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider's stock worth $64,801,000 after buying an additional 20,721 shares in the last quarter. Carronade Capital Management LP acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $62,845,000. Finally, Silver Point Capital L.P. lifted its stake in shares of Telephone and Data Systems by 47.2% in the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock worth $62,762,000 after buying an additional 590,000 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Raymond James restated an "outperform" rating and set a $47.00 target price (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. Finally, Wall Street Zen cut Telephone and Data Systems from a "hold" rating to a "sell" rating in a report on Friday.

Telephone and Data Systems Trading Up 0.4%

Shares of TDS stock traded up $0.15 on Monday, hitting $34.51. 630,325 shares of the stock traded hands, compared to its average volume of 1,019,169. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. Telephone and Data Systems, Inc. has a twelve month low of $17.90 and a twelve month high of $41.21. The firm's 50-day moving average price is $35.65 and its two-hundred day moving average price is $35.30. The stock has a market capitalization of $3.93 billion, a PE ratio of -6.39 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 16th. Telephone and Data Systems's dividend payout ratio is presently -15.24%.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.